USD corrects lower in Asia, BOE’s ‘Super Thursday’ – In focus

By FXStreet FXStreet (Mumbai) – A minor corrective-rally was seen across the Asia-pac currencies in the Asian trades, as markets continue to digest the hawkish comments from the Fed Chair Yellen delivered on Wednesday. Asian equities extended the previous rally, with the Chinese stocks sharply higher on the back of improving risk-appetite.

Key headlines in Asia

Stevens sets a bearish tone in AUD/USD

BOJ Minutes: Members agree inflation trend to keep improving

Fed not that far from 2% target, subject to Oil, USD – Fed’s Fischer

Dominating themes in Asia – centered on JPY, AUD, NZD

Broad based US dollar retreat was the main reason behind the minor recovery seen in the Asian currencies. While the USD/JPY pair eased-off two-month highs reached at 121.73 levels on Wednesday, and now remains offered around 121.45 levels. The bulls take breather after the Yellen-inspired sharp rally towards 100-DMA. The greenback rose to the highest level since August against most its major competitors after the Fed Chair reiterated yesterday that Fed remains on track to raise rates next month, although the decision is not made so far.

While the Antipodeans were struggling to stay in the positive territory with the Aussie still weighed by dovish comments from RBA …read more

Source:: FX Street